The IITian got a salary package of ₹100 crore from the company but was soon fired by Elon Musk. What is he doing next? Find out his story.

Studying in the prestigious IIT colleges is the dream of any engineering student. Heads of many tech companies around the world are IIT graduates. IITians are believed to have extraordinary vision and strong decision-making skills that take companies to new heights. Many examples support this, such as Google CEO Sundar Pichai, who is an alumnus of IIT Kharagpur. Companies offer rich packages for their services. However, in recent months, an IIT graduate has made headlines for being fired not for a job but for a ₹100 crore package.
Parag Agarwal was hired by Twitter (now X) on a salary package of Rs 100 crore. But soon after Elon Musk took over the micro-blogging site, he was fired within a year. After owning X, Musk made drastic changes, starting with firing Parag Agarwal. Agarwal was the CEO of Twitter.

Parag Agarwal's Salary Package on Twitter

Parag, an IIT Bombay graduate, was recruited through Twitter. He was paid a direct salary of around Rs 8 crore with an additional bonus of restricted stock units worth around Rs 94 crore. In total, the remuneration packages of IIT Bombay graduates exceeded Rs 100 crore. Quite an alum's earnings, isn't it?

What is Parag Aggarwal doing?

Parag Agarwal's loss of a job that paid around Rs 100 crore was largely obscured. Interestingly, recent reports from Bloomberg indicate that Parag and other executives who were let go, are currently advocating for a separation package that runs over Rs 1000 crore.

Parag Agarwal and a group of other ex-Twitter executives have initiated legal action against Twitter owner Elon Musk, alleging that he shortchanged them over Rs 1000 crore in severance pay. His legal counsel has filed a detailed 38-page complaint, which accuses Musk of running Twitter like a illegitimate company, failing to fulfill commitments to employees and suppliers, landlords. Their argument is that Musk defies the rules and uses much of his wealth and power to counter any opposition. It is reported that Agarwal was to receive a departmental salary of around Rs 400 crore.

Who is Parag Agarwal?

Parag Agarwal hails from Ajmer. His father was a senior officer in the Indian Department of Atomic Energy and his mother is a retired professor.
Parag Agarwal Education

In 2005, Agarwal achieved an impressive all-India rank of 77 and graduated from the prestigious IIT Bombay. He moved to the United States following his passion for knowledge and research. Here, he continued his academic career by enrolling at Stanford University for a PhD in computer science.

Before joining Twitter in 2011, he held internships at Yahoo and Microsoft Research.

Current Job of Parag Aggarwal

There is talk that Parag Agarwal is venturing into the fascinating world of Artificial Intelligence and has successfully raised a whopping Rs 249 crore in funding. They aim to make a significant contribution to the AI ​​domain by providing useful tools to full-level language modelers. This domain is familiar to many, mainly thanks to OpenAI's popular chatbot, ChatGPT. From what was shared in the grapevine, financial support for Agarwal's groundbreaking venture comes mainly from Khosla Ventures, which is headed by renowned OpenAI advocate Vinod Khosla. Adding to that, both First Round Capital and Index Ventures are rumored to have joined the club of investors in this round of funding.